[Info-vax] Former CFO of Autonomy Charged with Fraud

[IanD]

On Wednesday, November 16, 2016 at 2:55:04 PM UTC+11, Kerry Main wrote:
> This may be of interest to those who followed the HP acquisition
> of Autonomy for $11B and then within a year were subsequently
> forced to write off $8B
> http://www.eweek.com/enterprise-apps/ex-autonomy-cfo-is-indicted-
> for-fraud.html
> 
> "The former chief financial officer of British software giant
> Autonomy was indicted in San Francisco late last week on charges
> that he and other executives knowingly lied about the value of
> their company, which HP bought in 2011 for $11.7 billion.
> 
> The acquisition was a costly mistake, with HP writing down $8.8
> billion in the deal's value within a year. The deal, and its
> aftermath, led to the ouster of short-lived HP CEO Leo Apotheker
> and sparked a number of lawsuits and countersuits."
> 
> (how does one write off $8B anyway?)
> 
> 
> Regards,
> 
> Kerry Main
> Kerry dot main at starkgaming dot com

I thought it was called creative accounting?

There is no way any of these companies are worth their share value. Cheap credit and QE has indirectly inflated certain markets way beyond their real value